Hi everyone,
Hoping someone can help me!
My husband and i are about to apply for a joint mortgage with my husband already having a mortgage and me being a first time buyer (he own our house and we are selling to purchase jointly) hope that makes sense
my question is, we have around 10-15 credit accounts open, in various forms of credit cards, store cards and catalogues, which total in excess of £70k open credit. the collective balance between us of 'debt' on these credit accounts is a mere, £172 which we will have paid off payday (we never have balances outstanding on the accounts)
so does this affect our mortgage application, the fact we have in excess of £70k of 'open disposable credit' at this very moment?
the mortgage amount we are applying for is £228k which is well within our salarys etc so thats not a problem, but should we close these open accounts prior to the application?
Hoping someone can help me!
My husband and i are about to apply for a joint mortgage with my husband already having a mortgage and me being a first time buyer (he own our house and we are selling to purchase jointly) hope that makes sense
my question is, we have around 10-15 credit accounts open, in various forms of credit cards, store cards and catalogues, which total in excess of £70k open credit. the collective balance between us of 'debt' on these credit accounts is a mere, £172 which we will have paid off payday (we never have balances outstanding on the accounts)
so does this affect our mortgage application, the fact we have in excess of £70k of 'open disposable credit' at this very moment?
the mortgage amount we are applying for is £228k which is well within our salarys etc so thats not a problem, but should we close these open accounts prior to the application?